Date:07/06/2006 URL: http://www.thehindu.com/2006/06/07/stories/2006060707411900.htm

Business

Rupee loses 14 paise

MUMBAI: The rupee on Tuesday plunged against the U.S. dollar and closed at 45.92/93 a dollar due to heavy dollar demand from oil PSUs along with strong dollar against other major world currencies. Heavy FII selling in the stock markets, which forced the BSE index to plunge by around 300 points to close below the 10000-mark, also dampened rupee sentiment, dealers said.

In volatile trading on the interbank foreign exchange market, the Indian currency opened sharply weak at 45.87/89 and after hitting a bottom of 45.9500, closed at 45.92/93against the previous close of 45.77/79.— PTI